U.S. M&A announcements fall 9.5% in April

FactSet said U.S. M&A announcements fell in April even as the value of announced deals increased, a split that points to fewer transactions but larger ones getting signed. The data, published May 20 in FactSet’s April 2026 U.S. (insight.factset.com) Mergers & Acquisitions Monthly Review, showed 1,161 U.S. deal announcements in April, down 9.5% from 1,283 in March. FactSet also said aggregate M&A spending was up 21.7% from the prior month, while its Flashwire monthly report put aggregate transaction value at $102.6 billion, up 51.6% from March’s $67.7 billion. (go.factset.com) ### If deal count fell, what exactly went up? (insight.factset.com) FactSet’s April review drew a distinction between the number of deals and the dollars attached to them. The count of announced U.S. transactions fell month over month, but the spending total increased, indicating that April’s pipeline was supported by larger announced transactions. The Flashwire report gave the clearest dollar figure: $102.6 billion of aggregate transaction value in April, versus $67.7 billion in March. FactSet’s separate monthly review described that same move as a 21.7% increase in aggregate M&A spending from March. (insight.factset.com) ### Which April deals were big enough to move the totals? FactSet listed QXO’s agreement to acquire TopBuild for $14.2 billion among the largest U.S. deals announced in April. Intel’s acquisition of the remaining 49% stake in Fab 34 from Apollo Global Management, also valued at $14.2 billion, was another of the month’s biggest announced transactions. (insight.factset.com) Amazon’s agreement to acquire Globalstar for $10.6 billion also featured near the top of FactSet’s April list. FactSet also cited USA Rare Earth’s $2.9 billion deal for Serra Verde Group and ADW Capital Management’s $2.8 billion offer for the remaining stake in Driven Brands not already owned by Roark Capital Group. (insight.factset.com) ### Which parts of the market were still generating more activity? FactSet said 15 of the 21 sectors it tracks posted higher M&A activity over the latest three months than in the same period a year earlier. Industrial Services rose to 248 deals from 194, Commercial Services to 411 from 367, Non-Energy Minerals to 101 from 71, Distribution Services to 140 from 115, and Producer Manufacturing to 199 from 176. (insight.factset.com) Those figures show where deal flow was broadening even as the monthly headline count weakened. FactSet’s comparison was based on the three months ended April 30, 2026, against the same three-month stretch in 2025. (insight.factset.com) ### Where did deal flow weaken? FactSet said four of the 21 sectors it tracks showed lower deal activity over the past three months than a year earlier. Finance fell to 668 deals from 699, Consumer Non-Durables to 76 from 95, Process Industries to 54 from 71, and Energy Minerals to 23 from 26. (insight.factset.com) The April release did not attribute reasons for those sector declines. It reported the counts as part of its regular monthly review of announced U.S. transactions through April 30. (insight.factset.com) ### What should readers watch in the next update? FactSet published the April 2026 review on May 20 through FactSet Insight and in its May 2026 U.S. Flashwire monthly report. The next monthly update will show whether May reverses the decline in announcement count and whether another cluster of large transactions keeps aggregate value elevated. (insight.factset.com)